Category: Industry
Management Chat
Mar 06, 2009 (LBO) – Merchant Bank of Sri Lanka, (MBSL) a unit of state-run Bank of Ceylon, said it was in talks with the regulator to manage and rehabilitate Ceylinco Savings Bank, a member of the island’s troubled Ceylinco group. In another development Seylan Merchant Bank said it was in talks with People’s Leasing […]
Flat Rate
Mar 06, 2009 (LBO) – Commercial Bank of Ceylon group has reported profits of 4,118.9 million rupees for the year ended December 2008, lower by 0.7 percent, with revenues growing 24.8 percent to 43.9 billion rupees. Group interest income grew 21.9 percent to 37.2 billion rupees, interest expense grew 28.44 percent to 24.3 billion and […]
New Lease
Mar 06, 2009 (LBO) – A Sri Lankan motor company is offering a ‘buy now, pay later’ auto leasing scheme, which it hopes will boost sales that have plunged with the economic slowdown. The new leasing facility introduced by Associated Motorways (AMW) allows potential customers to purchase a Suzuki M800 car today and commence lease […]
Aussie umpire slams security for terror attack
SYDNEY, March 5, 2009 (AFP) – Australian cricket umpire Steve Davis slammed Pakistan on Thursday for failing to protect him and other officials who came under fire during the attack earlier this week on Sri Lanka’s cricket team.“The driver’s foot was lodged on the accelerator and it was revving at a million miles an hour,” […]
Sri Lanka players recover in hospital after Pakistan attack
March 5, 2009 (AFP) – Two Sri Lankan cricketers injured during a gun and grenade attack in Pakistan have undergone surgery and are recovering in hospital, a doctor said on Thursday. Tharanga Paranavitana who had a bullet lodged in his chest and Thilan Samaraweera, who had shrapnel in his right leg, underwent surgery at a […]
Restructuring
Mar 05, 2009 (LBO) – An investment banking unit linked to a state bank is examining several troubled finance and real estate firms of Sri Lanka’s Ceylinco group, a media report said. The Daily Mirror newspaper said the Merchant Bank of Sri Lanka, a listed subsidiary of state-run Bank of Ceylon, is planning to re-structure […]
Reaching Out
Mar 05, 2009 (LBO) – Sri Lanka’s two biggest banks, state-owned Bank of Ceylon (BOC) and the private listed Commercial Bank, plan to expand in areas of the island’s north and east which have been cleared of Tamil Tiger rebels. Bank of Ceylon’s expansion program is part of the government’s economic revival programs for the […]
Sri Lanka seeks insurance after Pakistan attack
March 4, 2009 (AFP) – Sri Lanka on Wednesday called for bids to insure the national cricket team, a day after a gunmen ambushed their bus in Pakistan, leaving seven players and an assistant coach injured.Sri Lanka Cricket (SLC) said it was looking for an insurance policy to cover group travel, medical and personal accident […]
Broken Axle
March 04, 2009 (LBO) – Sri Lanka’s once prosperous motor industry has seen a sharp fall in sales, hit by shrinking credit, a fast depreciating rupee and import restrictions, a senior official of the Ceylon Motor Traders Association (CMTA) said. Revenues for the December quarter had plummeted by 17 percent or 384 million rupees, to […]
Long Voyage
March 04, 2009 (LBO) – Sri Lanka’s Hemas Holdings has got two seats on the board of directors of Mercantile Shipping Company, a ship owner and operator in which it acquired a stake last year.Hemas group director Imtiaz Esufally and Irshad Mushin, director – maritime transportation of Hemas group, have been appointed non-executive directors of […]
Pakistan hunts attackers of Sri Lanka cricket team
LAHORE, March 4, 2009 (AFP) – Pakistan stepped up a manhunt on Wednesday for the armed militants behind a deadly ambush targeting Sri Lanka’s cricket team, which has plunged the troubled nation deeper into crisis.It was the first deadly direct assault against a sports team in nuclear-armed Pakistan, where over 1,600 people have died in […]
Sri Lankan cricketers rushed to hospital on return from Pakistan
March 4, 2009 (AFP) – Sri Lanka’s wounded and shaken cricketers flew home to Colombo Wednesday and were rushed straight to a local hospital, a day after being attacked in a deadly ambush in Pakistan, officials said. There were emotional scenes as relieved relatives welcomed home the 25-member tour party, who were led from a […]